Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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Joel Robinson

First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

Insurance

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<div>Monoline mortgage insurer Genworth Mortgage Insurance Australia (GMA) released its FY15 results late last week, with new CEO (and fellow former Deloittian) Georgette Nicholas taking the helm for its latest investor presentation.</div>
<div> </div>
<div>As expected following the loss of a key contract gross written premium was down by 20 per cent from FY14, largely due to Westpac canning its Lenders Mortgage Insurance (LMI) deal with Genworth in February 2015, but underlying earnings performance remained resilient.</div>
<a href="/images/2016/02/08/GMA1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/08/GMA1.jpg" alt="">
<div> </div>
<div>The number of paid claims was well down to 616 in 2H15 from 664 in the prior corresponding period of 2H14 (and way down from 1,091 in 2H13) although the average paid claim increased year-on-year to $63,500 from $54,400.</div>
<a href="/images/2016/02/08/GMA2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/08/GMA2.jpg" alt="">
 Delinquencies very low
<div> </div>
<div>Genworth's ASX releases are perhaps most interesting for their ongoing insights into mortgage delinquencies, and the latest presentation showed that delinquencies remain at a very low level of just 0.38 per cent nationally. </div>
<div> </div>
<div>Queensland has the highest delinquency rate of the states (0.53 per cent), in no small part thanks to the now discredited belief that house prices and vacancy rates in mining towns could emerge unscathed from the end of the resources construction boom. </div>
<div> </div>
<div>Queensland's delinquency rate has also been elevated since the 2011 book year when delinquency developments were exacerbated by flooding across huge swathes of the state. Strip out those exceptional items and mortgage books in the remainder of the Sunshine State are in reasonably solid nick.</div>
<div> </div>
<div>South Australia is next in line at 0.51 per cent, perhaps unsurprising given the elevated rates of unemployment consistently being recorded in Adelaide and regional South Australia. </div>
<div> </div>
<div>Delinquency rates were exceptionally low in New South Wales for such a populous state at just 0.27 per cent.</div>
<div> </div>
<div class="separator"><a href="/images/2016/02/08/GMA3.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/02/08/GMA3.jpg" alt=""></div>
<div> </div>
<div>Mapping GMA's delinquency developments by book year shows how delinquency rates have cascaded handsomely lower since the particularly troublesome 2008 and 2009 book years. </div>
<a href="/images/2016/02/08/GMA4-1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/08/GMA4-1.jpg" alt="">
<div>Share price rebound</div>
<div> </div>
<div>The share price responded positively to the FY15 investor presentation to trade up by +4.33 per cent by the market close yesterday at $2.65.</div>
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  <div class="separator"><a href="/images/2016/02/08/GMA6.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/02/08/GMA6.jpg" alt=""></div>
</div>
<div>If Genworth is perceived to be any kind of worthwhile bellwether for property market sentiment (commonly claimed when the market cap is down) then the 20 per cent recovery in the share price from $2.21 to $2.65 augurs well for the mortgage default outlook. This is particularly so given that the share price dipped sharply in September as the APRA crackdown on property investors bit hard, adversely impacting expected volumes through 2016. The Genworth share price had slumped to a 52 week low of $2.21 on September 2015 as the Glencore share price crash rocked commodities companies and share market confidence.</div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
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pwargent-M4siyDbqQY

Genworth's mortgage delinquencies remain low

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GUEST OBSERVER
The fire season has started early. Homes were destroyed last month in bushfires near Lancefield, Victoria, while buildings and lives have been lost as fires continue to sweep through southern Western Australia.
Alongside the devastating loss of life and properties, many properties potentially in the path of Australian bushfires are inadequately insured.
While we have known about high rates of non-insurance and under-insurance across Australia for some time, there is surprisingly little solid data on the issue. We recently set out to address this gap at both the national and regional level.
Early findings from a national survey (which we will be presenting at the 2015 TASA conference later this month) indicate 13% of those surveyed are without insurance cover for their assets - 9% of home owners are without house insurance and 41% of tenants do not have contents insurance.
Approximately one-quarter of those who are insured may also be inadequately covered.
<h2>Under-insurance: a hot topic</h2>
These new findings strengthen our understanding of some already troubling figures on insurance in Australia.
After bushfires destroyed or severely damaged 500 homes in Canberra in 2003, estimates for national rates of under-insurance varied from 27 to 81%. The 2009 Victorian Black Saturday bushfires destroyed over 2000 homes, with about 13% of all property losses not insured.
The average uninsured loss for each Australian natural disaster between 2004 and 2011 is estimated to be nearly one billion dollars.
Yet the lessons of Black Saturday and other disastrous events appear slow to sink in.
For some, the purchase of adequate insurance cover is simply not an option. Bushfire-prone urban fringes are increasingly populated by low income earners and households where English may be the second or third language. The affordability and perhaps cultural understanding of insurance stand as obstacles to obtaining adequate coverage.
Informing people of the risks of under- or non-insurance, along with fear mongering or peer-pressure, are unlikely to be effective strategies for change. Even when money is not as tight, more information does not necessarily result in behavioural change.
This was found in interviews with at-risk residents in New South Wales. Everyday priorities, care-providing roles, and trade-offs between environmental risks and benefits are all factors that influence risk tolerance and safety behaviour.
Interviews we undertook with “tree changers” living on the outskirts of Hobart, Tasmania also highlight the uncertainty associated with taking out insurance cover. While affordability is not an issue for this cohort, public mistrust in insurance companies, and their lack of transparency certainly is.
<h2>Insurance as one part of an integrated disaster strategy</h2>
Losing one’s biggest material asset without the means to re-build or repair certainly exacerbates the personal trauma of disasters. It also contributes to the financial burden borne by governments and communities in the process of recovery.
However property insurance should not be seen as a panacea for the next Black Saturday. Insurance alone cannot prevent floods or fires, and without a broader support network in place it is unlikely to be as effective as proactive disaster mitigation.
In fact, our research suggests that house and contents insurance works best as one aspect of an integrated disaster preparedness and recovery plan. With some governments leaning towards the privatisation of risk, insurance can appear as the disaster management mechanism of choice.
Yet re-building a house (if one has adequate insurance cover) does not, on its own, re-build lives and communities.
Insurance can help in the aftermath of a disaster only if it is coupled with collective clean-ups, infrastructure repair, government assistance, and community outreach.
<h2>A call to action</h2>
As the fire season kicks off, it’s not only about individual responsibilityfor adequate insurance coverage. Affordability is clearly important for those who are most vulnerable in the face of property loss. Insurers also need to bring more transparency to premium pricing.
Governments have a vital role to play here, too. By providing greater accountability for payout decision-making, they could increase consumer confidence that money spent on insurance will actually deliver dividends. Only through the development of robust prevention and recovery strategies can communities and households be adequately safeguarded against future disasters.
 
Kate Isabel Booth is research fellow in Urban Geography, University of Tasmania and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/kate-isabel-booth-201344" target="_blank">here</a>.
Bruce Tranter is professor of sociology, University of Tasmania and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/bruce-tranter-204682" target="_blank">here</a>.
Christine Eriksen is senior research fellow, University of Wollongong, and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/christine-eriksen-106365" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Properties under fire: why so many Australians are inadequately insured against disaster

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Mortgage aggregator Finsure Finance &amp; Insurance has surged into second place in BRW Magazine's latest top 100 Fast Starters list, up from 18 in 2014, positioning it as one of Australia’s fastest growing companies.
BRW’s annual Fast Starters list compares businesses founded after June 2011.
Those that make the list are ranked by their revenue and their growth percentage within the last financial year.
BRW recorded Finsure’s FY15 revenue as having grown 90 percent year on year.
The Finsure Group recently hired its 800th broker and stated that settlement volumes rose a further 50 percent during July and August, compared with the same period last year.
“We are delighted to be ranked second on such a high profile list and also to be acknowledged as the fastest growing financial services company,” John Kolenda, Finsure's managing director, said.
“The timing of this award couldn’t be better as we are currently holding our first international conference in Shanghai."
The full list of this year’s BRW Fast Starters can be found <a href="https://www.brw.com.au/lists/fast-starters/2015/" target="_blank">here</a>.
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j.ballantyne1990-6AQqhLzZaK

John Kolena's Finsure races to second place in BRW's Fast Starters list

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Genworth Mortgage Insurance Australia revealed that its chief executive, Ellie Comerford was leaving the company.
Genworth, which has a market valuation of $1.6 billion, announced Ms Comerford was retiring from the insurer.
She will remain in an advisory role until May 31.
The share price has been trading close to record lows, down 22% in the past year to $2.48
Genworth was only listed in May last year at a 13% premium after Australia’s biggest lenders mortgage insurer (LMI) made its public debut on the Australian Securities Exchange.
Genworth shares were priced at $2.65 in Genworth’s $496 million float.
Its prospectus reported Genworth Australia had been profitable for 46 of the past 48 years.
The company is chaired by Richard Grellman.
Genworth chief financial officer Georgette Nicholas will be acting chief executive.
GMA, through its subsidiary companies Genworth Financial Mortgage Insurance Pty Ltd and Genworth Financial Mortgage Indemnity Ltd (GMA Group), is the leading provider of Lenders Mortgage Insurance (LMI) in the Australian residential mortgage market.
The GMA Group has been part of the Australian residential mortgage lending market for 50 years since Housing Loans Insurance Corporation was founded by the Australian Government in 1965 to provide LMI in Australia. 
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Genworth chief Ellie Comerford departing

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Comparison website Mozo has named Youi the best home insurer in Australia, based on about 10,000 insurance customers' reviews.
Youi was rated 8.3 out of 10, followed by Westpac, GIO, Suncorp and Coles.
The Royal Automobile Association of South Australia took out the award for the best specialist home insurer category.
According to Mozo director Kirsty Lamont, customers' satisfaction levels were closely related to price. However, service also played a substantial role.
"The biggest gripe among customers is the claims process, which is the real moment of truth for insurers, most negative reviews were related to refusal to pay claims, delays in claim payments and the attitude of staff," said Lamont.
"68% of us are fans of our insurer and the remaining 32% gave their insurer a fair or fail rating," Lamont said.
Mozo refers to those who rated their insurer eight or higher "a fan", while "fair" refers to those who gave a score between five and seven. A "fail" is a score of four or lower.
Women generally scored insurers higher than men did. Victorians and Queenslanders were the least satisfied with their insurers than customers in other states.
Mozo users rated their insurers 7.8 out of 10 overall.
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Mozo names Youi Australia's best home insurer

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The Banking Day website reports Westpac has "kicked Genworth, and maybe also QBE, off its reinsurance panel" with others moving to fill the void.
Banking analysts cited by <a href="https://www.bankingday.com" target="_blank">Banking Day</a> suggest Westpac would "effect a capital arbitrage with a Bermudan reinsurer whereby they can extract more (profit) commission for ceding the business than they could by keeping it in Australia".
Genworth shares tumbled after getting three months notice that Westpac had ditched the LVR lender mortgage insurance arrangements for 90% plus loan to value ratios (LVRs). <a href="https://www.bankingday.com/nl06_news_selected.php?act=2&amp;stream=1&amp;selkey=18197&amp;hlc=2&amp;hlw=" target="_blank"></a>
<a href="https://www.bankingday.com/nl06_news_selected.php?act=2&amp;stream=1&amp;selkey=18197&amp;hlc=2&amp;hlw=" target="_blank">The Banking Day report</a> says a UBS briefing noted "we understand QBE LMI received similar notification".
Loans in the less risky 80 to 90% LVR range will continue to be supported by Westpac’s own insurance arm.
Fairfax Media have identified it as Arch Capital Group of Bermuda.
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Westpac reportedly ditch the LMI duopoly for Bermudan reinsurer

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Westpac Banking Corp has told Genworth Mortgage Insurance Australia that it will be cutting short its lenders mortgage insurance (LMI) agreement with Genworth.
It provided 90 days written notice yesterday. The company’s shares are down today more than 20% to around $3.34.
The termination provisions of the agreement were set out in the IPO Prospectus of the recently listed company.
WBC recently completed a strategic review of residential mortgage loans with a Loan to Value Ratio (‘LVR’) of greater than 90%.
The LMI business underwritten under this contract represented 9.5% of Genworth’s New Insurance Written in 2014. Genworth suggests a 14% fall in gross written premiums, which totalled $634.2 million in 2014.
The full effect is more likely to be felt in the 2016 financial year and beyond, the company advised. 
Westpac have not indicated if they will insure the loans with LVRs over 90% or take the additional risk itself,or go to the rival, QBA.
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Westpac dump Genworth's LVR insurance agreement

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GUEST OBSERVATION
Last month, Brisbane's storm activity saw insurance companies clock over 2,000 calls in the first couple of hours of the storm taking place. What followed were insurance companies scrambling to process the claims as quickly and efficiently as possible before the next round of storms begin.
This storm season, it's more important than ever to make sure that you are well prepared. The Bureau of Meteorology has predicted that Queensland and New South Wales will be hit with numerous rounds of storms with the potential for very damaging results.
Here are a few tips to make sure you're ready to tackle this storm season:
<ul>
<li>Make sure all gutters are cleaned, roofs have no current damage and that any damage not caused by storms have been repaired.</li>
<li>Ensure that your body corporate's current insurance policy is up to date.</li>
<li>Double check what is included and excluded in your policy and that the unit block is adequately covered for storm damage. If there are areas you believe should be improved or extra cover added make a list and be sure to bring it up with your Committee members.</li>
<li>Secure all loose fittings on common property, such as umbrellas, plants, lounge chairs and tables.</li>
<li>Check your own personal insurance policy for what you are covered for should storm damage occur. Remember: your own personal belongings are not covered by your body corporate's insurance.</li>
<li>Make sure that signs detailing evacuation plans are placed around the complex and that every tenant and owner is aware of the procedures.</li>
<li>Always make sure that the trees are maintained and trimmed. This reduces the risk of debris flying around during a storm.</li>
</ul>
It is recommended that you have an emergency kit, which could contain the following:
<ul>
<li>Sand bags in case of any flash flooding.</li>
<li>Heavy-duty black garbage bags and masking tape for bordering up any broken or damaged windows to prevent further damage to your property inside.</li>
<li>Torch and radio.</li>
<li>A list of radio stations which announce emergency information as well as a list of emergency numbers and hotlines.</li>
<li>A "go bag" should you have to leave in a hurry. This could contain items such as your most important documents (passports, birth certificates etc.) as well as some clothes. Included in this should be a contingency plan of where you are going to go should you have to evacuate your house.</li>
</ul>
After the storm, it is crucial that you stay away from any fallen power lines and flooded roads and do a check of your property, complex and common areas for any damage. The committee should be notified of any damage found for further action.
Rebecca Kennedy is senior tender analyst for <a href="https://stratamatch.com.au/" target="_blank">Strata Match</a>.
Strata Match is a corporate advisory service, providing committees and owners with a transparent tendering process to facilitate the selection and transition of body corporate buildings from one strata manager to another.
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Tips to ensure your body corporate is prepared for this storm season

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With bushfire disasters seen recently in South Australia and Victoria, Terri Scheer Insurance’s insurance executive manager Carolyn Parrella is warning landlords to seek appropriate coverage now.
Parella said there has been widespread loss, from property loss to stock loss, and that it will take a while to examine the full extent of the damage.
“It’s often in times like these when insurance becomes front of mind, in terms of whether there is adequate insurance in place, or whether a homeowner is covered at all,” said Parella.
She warned that while price is often the first consideration for insurance, affordability should not be the only thing that investors look at when considering their coverage.
In fact it’s more about looking at the level of coverage, and considering the potential “what ifs”.
“This includes the location of the property and whether you live in a high risk bushfire zone or flood prone area, as the relevant building codes may alter the level or type of coverage required,” she said.
“My message to landlords is – don’t wait until it’s too late when it comes to insurance coverage.”
When submitting a claim, she warned that you don’t want to be discovering that you don’t have the cover you thought that you did or to find excesses that you hadn’t considered.
“It is a good idea to regularly review your policy and ensure appropriate coverage is in place.”
Here are some points to remember:
<ul>
<li>It’s worth reading your policy wording, including terms and conditions, to ensure you are covered for what you think you are. 
</li>
<li>Ensure your policy is up to date – an expired cover leaves you uninsured. 
</li>
<li>Suitable building insurance policies should be checked for fire coverage and can cover rental income if the property is damaged and can’t be tenanted for a period of time. 
</li>
<li>Specialised landlord’s insurance may be worth considering.</li>
</ul>
Source: Terri Scheer Insurance
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Bushfires prompt insurance warning: Terri Scheer Insurance

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GUEST OBSERVATION
It’s that time of year when people are enacting their summer holiday plans.
Summer can be a particularly busy time for investors with holiday homes in their portfolios.
While most guests will do the right thing, even the most careful holiday makers can take a more casual approach to looking after a rental property when in holiday mode.
People who rent their holiday homes can expose their property to specific risks including theft, malicious and accidental damage and legal liability issues arising from holiday makers injuring themselves on a property.
This can also lead to loss of rental income while damages are repaired.
The risks can be significant when you consider that a holiday home may be rented out a number of times a year.
We have seen instances where goods have been stolen from a holiday home to damage caused by an overflowing bath tub left unattended.
There were a number of tips to consider that can help reduce these risks during this busy period.
<ul>
<li>Presenting the property</li>
</ul>
Before the holiday season begins, it’s important for landlords to prepare a well-presented property for their guests.
A fresh coat of paint or attending to gardening maintenance can help ensure the property remains well cared for.
Landlords who offer an attractive home set the standard and may be more likely to be rewarded with tenants who take care of their property and pay their rent on time.
<ul>
<li>Safety</li>
</ul>
Landlords should inspect holiday homes regularly to ensure lights, white goods, appliances and smoke detectors are in working order and that the property is safe and habitable.
A detailed condition report should be completed which can include photos and videos of the property and any valuable furniture. 
By providing guests with a safe environment to live in, it may also reduce the possibility of injuries taking place which could potentially result in a liability claim for the landlord.
<ul>
<li>Security</li>
</ul>
Some guests may become casual in their approach to security while on holidays.
Often the warmer weather means doors and windows may be left open during the day or at night.
Landlords should ensure they have appropriate security measures in place to deter would be thieves, including secured locks on screen doors and windows, sensor lights outside the property, a key box with PIN to store the key for guests coming and going from the property and fencing around the property.
<ul>
<li>Welcome pack</li>
</ul>
It is a good idea to prepare a welcome folder for the holiday home that contains important information.
This may include the terms and conditions of the occupancy, such as check-in and check-out times, the rental rate, the maximum number of occupants and vehicles to be housed at the property and after-hours emergency contact details.
The folder can also include a detailed inventory of the furnishings included for use and a list of keys, remotes and key cards.
This will enable tenants to check the list and replace anything that may have been broken or misplaced before they vacate.
You may also like to include information about the general area such as garbage collection times, local restaurants and popular spots to visit.
Leaving a small welcome package of basics, such as teabags, coffee, sugar and biscuits for the tenants can help encourage tenants to treat the property as if it were their own.
<ul>
<li>Appropriate insurance</li>
</ul>
Short-term rental holiday insurance can provide reassurance that property owners won’t be left out of pocket if their rental property is damaged or robbed over the holidays.
Landlord insurance policies for holiday homes generally provide insurance for short-term rentals of up to 12 weeks.
Landlords who protect themselves from the risks associated with renting a holiday home can then make the most of their time during the busy holiday season and help ensure their tenants have an enjoyable stay this summer.
Carolyn Parrella is executive manager of <a href="https://www.terrischeer.com.au/" target="_blank">Terri Scheer Insurance</a>.
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